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An mQ, mQ1, or mQ2 is an electronically controlled valve system that replaces the entire lower tube of the gun. Here's an article on how it works. As for why you would want one, there's two options:
It allows for a very low cocking pressure, since the hammer, and main spring is removed from the lower tube, and that can give the gun a much, much smoother cycle.
Or
It can also allow the gun to cycle faster because there isn't a main spring to be compressed by the ram.
It's also got a slightly different feel to the cycle of the gun, less chunky, even when you're going for speed.

But, like the QEVs, both of those are a trade off. If you want a smooth cycle, you aren't going to be shooting blazingly fast, and if you want blazing speed, you aren't going to be able to have the smoothest cycle you could.

From my experiences, I would keep the beginners guide to basic field use

Chrono'ing - up and down basics to get to field limits IVG or HPR adjustment (beyond that would be Moderate 102 level)
Basic maintenance - oiling, cleaning (front block using q-tips or spray water, not removing hoses, etc..)
Bolt orientation - flow hole down (seen a couple times)
For electro users - If not first day of use and experiencing issues first check battery (despite rumor most cockers don't need set-up/tuned everyday - again seen a couple times)
Use the marker several times to figure out your preferences (Don't upgrade/change anything just to change - seen a "friend" change a chrome STO 3-way to Red STO for better performance)